Paola cost of living index

A general overview of the cost of living index for Paola, KS is displayed above. In Paola, KS, the overall cost of living index is 88, which is 2% lower than the Kansas average and 12% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Paola, KS, the city's goods and services are 2% higher than the Kansas average and 3% lower than the U.S. average.

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Salary Calculator

The salary calculator is used in order to provide a comparison of your current salary in Paola, KS to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Paola, KS, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Paola, KS salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

One can approximate the cost of living and the housing affordability in Paola, KS by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Paola, KS have a median income of $73,103. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,706 per month to avoid calamity and poverty. The renters in the city have an income of about $17,057, which would make their monthly maximum allowable rental costs $398.

Kansas Sales Tax

Kansas Income Tax

The Kansas sales tax and Kansas income tax rates should definitely be considered when determining the overall cost of living in Paola, KS. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Kansas sales tax is 6.5% and the maximum surtax is 10.15%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Kansas income tax rates range from 2.9% to 5.2%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

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Source: The Paola, KS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.